Press
June 15, 2022
Traded New York reported Top Rock Holdings $100,500,000 million acquisition of office condominium with potential development.
ADDRESS: 609 5th Avenue
MARKET: Manhattan
ASSET TYPE: Office/Development Site
BUYER: Top Rock Holdings
SALE PRICE: $100,500,000
September 27, 2021
Traded New York reported Top Rock Holdings obtained an $80 million loan on a 1,030,000 SF office portfolio which the partnership bought in March of 2020 for $83 million. The portfolio is part of the 3,843-acre Cummings Research Park which is the second-largest research park in the country. The tech park is aerospace and cyber defense focused.
June 3, 2021
The Real Deal has reported Top Rock Holdings closed on a $31.7 million dollar development deal in a joint venture with SYU Properties and RJ Capital for the site at 70-35 113th Street in Forest Hills from seller, Auberge Grand Central.
The deal delivers 360,000 square feet in total development rights. The trio of new owners plan to redevelop the six-story building with affordable units for seniors on those floors and newly built market-rate apartments over the the top.
January 10, 2022
PincusCo media reported Top Rock Holdings paid $4 million for the development site located at 3251 Westchester Ave in the Pelham Bay Bronx neighborhood. The property has 8,638 SF of built space with 56,000 SF of buildable potential. The site sits on the corner of St Paul Avenue and Westchester Ave close to the Pelham Bay Park.
September 17, 2021
PincusCo Media has reported Manhattan-based Top Rock Holdings with partner Meyer Chetrit obtained an $80 million loan on a 1.03 million SF office portfolio which the partnership bought last year for $83 million. The portfolio is part of the 3,843-acre Cummings Research Park which is the second-largest research park in the country.
May 26, 2021
Developers, Top Rock Holdings plan to build market-rate condominiums, market-rate rentals, and affordable rentals at a large Forest Hills, Queens, parcel acquired yesterday for $31.7 million, according to a source familiar with the transaction.
The site at 70-35 113th Street composed of a hospital and vacant lot has about 440,000 square feet of development rights and is currently occupied by an approximately 100,000-square-foot hospital.
June 24, 2021
The Real Deal reported Top Rock Holdings secured $29.4 million in bridge financing in the purchase of the former Parkway Hospital development site in Forest Hills from Madison Realty Capital.
Madison provided the floating-rate loan to the JV with Top Rock Holdings, SYU Properties and RJ Capital. The transaction closed last month on the long-shuttered former hospital at 70-35 113th Street with a $31.7 million purchase price.
Read the full story online on The Real Deal.
September 3, 2021
Top Rock Holdings paid $8.75 million to the Chehebar family’s Jackson Group for the development site at 2970 3rd Avenue in South Bronx. The deal closed on August 26, 2021 and was recorded on September 2, 2021. The site as of right allows for a maximum of more than 100,000 square feet of development potential including residential.